Overseas property inquiries to be sold at auction

Overseas property portal Lead Galaxy – part of the Move Channel – has relaunched and is auctioning customer leads for between £1 and £25. The newer the lead, the more it costs.

In a news statement, Lead Galaxy elaborates by saying that its “intelligent search engine matches profiles to partners based on the country, location, type and price range that the customer is interested in”.

It continues: “Once the system has identified all the partners with matching profiles, it sends the lead to the highest bidder. This continues until the partner either runs out of budget or is outbid by another agent.

“If there are no bidders, the lead goes into the ‘Buy Leads Now’ system, where it can be purchased for a price that decreases as the lead ages.”

Dan Johnson, director of the Move Channel, said: “Lead Galaxy fills a clear gap in the market for a low-hassle, low-cost way of generating sales referrals for any kind of property sales business.

“I’m a huge advocate of business efficiency, and the ease with which people can set up profiles or buy leads, without having to spend hours listing dozens or even hundreds of properties, should make it an appealing route to market for a lot of time-stretched companies.

“With our global distribution network, the throughput of leads is going to be exceptionally high, meaning that most companies will see their sales potential increase significantly by signing up to the service.”

New customers can open an account with Lead Galaxy for £10 in July, rather than the usual £50.